In Other News, Gravity Still Pulls People Downwards

The Electoral College has yet to convene to officially elect Barack Obama as the next president of the United States, and the myths surrounding his campaign are already falling.  Aside from a wonderful opportunity to say “I told you so” to the liberals in our lives, this will provide wonderful fodder for the next four years.   (“Hope and change:” the new “I did not have sexual relations with that woman.”) The latest: the Campaign Finance Institute analysed the donations to the Obama campaign and found that the unprecedented amount of cash was not given by small Americans who were inspired by Obama’s greatness.  (Hat tip: TigerHawk.) A separate study found that perpetual motion machines do not actually work as advertised.

The reality: 26% of Obama’s $640 million (roughly $150 million) came from donors who gave $200 or less.  (Approximately 25% of George Bush’s donations came from small donors.)  The remaining $450 million – more than George Bush, John Kerry, and John McCain raised – came from people who gave more than $200.   Another 27% of Obama’s donations came from people who gave between $200 and $1,000 (here); this still leaves about than $300 million from large, wealthy donors – which is roughly what McCain raised from all sources combined, including $84 million for public financing.

The Obama campaign was required to keep track of each and every donation, and report the name of any person whose total donations exceeded $200.  Given that the campaign disabled the security features on its web site, which enabled people to give under fictitious names and with personal information that did not correspond to the credit card which was used, we can’t even be sure that all of those people actually were under the $200 limit.

Perhaps the news that the Obama campaign was not funded by small donors who gave their hard-earned money (during one of the worst economies in decades), but rather by big money, will prompt the FEC to reconsider its decision to not investigate Obama.  (After all, some of the FEC’s rationale – aside from the admission that the audit would be embarrasing to a sitting President – was that the huge number of donors lessened any benefit of fraud.)

Obviously, Obama will enter office with a tremendous debt to pay off – not monetary, but political.  Ideally, the American public would have known about this before the election, when it was actually possible to not vote the #2 all-time recipient of funds from Fannie Mae and Freddie Mac, for example, into office, at a time when the fall of FM/FM created one of the worst financial disasters in history.  We will find out (the hard way) who paid for Obama’s presidency and what he owes them.  Unions and their PACs? Overseas moneyLobbyists?  (More lobbyists?)

Naturally, the Obama-pologists are out in full force.  Among the criticisms of CFI’s study: the figure for “small” donations was an arbitrary $200 (which ignores the fact that this is the threshold for reporting, and also a sensible one, in that many Americans have an extra $100 or so lying around, but not an extra thousand dollars); the Obama campaign was longer (as if that somehow changes what big donors believe they are owed); and, of course, the ceaseless comparisons on a percentage basis, which ignores the fact that Obama raised a frightening amount of money from big-time donors, who will come equipped with their own demands upon our new president.

(Thanks to the super-fabulous Queen of Swords for the title.)

Breaking: Sylvester Croom resigns at MSU

Just breaking from ESPN, embattled head football coach, Sylvester Croom, has resigned from Mississippi State.


Sylvester Croom has resigned as head coach of Mississippi State, ESPN.com has learned.

Ole Miss humiliated Mississippi State 45-0 on Friday at Vaught-Hemingway Stadium in the most lopsided Egg Bowl in 37 years. The Bulldogs finishing with 37 total yards and three different Mississippi State quarterbacks were sacked 11 times.

Despite the eight-win season a year ago and all the positive gains Croom made with the program, the Bulldogs have had only one winning season since 2000.

Yada, yada, yada, “positive gains with the program” …Riiiight. At least they didn’t say the “Croom is building the program the right way.” Arrrgggh.

So Long Sly. Thanks for everything. See you in the funny papers.

The wrap-up from Sporting News

More from MState Athletics

WFFOT: Fire Sylvester Croom Now

Update: Croom resigns
fire_sylvester_croom_256
It is 31 – 0 at halftime in the Egg Bowl.

Another humiliating loss for the MSU Bulldogs.

If I have to hear another announcer drone on about how “Croom is doing it the right way,” or some other such happy-sounding BS, I think I will barf.

Croom has had 5 years to do it, right way or not. His teams can’t run, can’t pass, can’t block, can’t tackle, can’t kick, and can’t compete in the SEC.

Other than that, Croom is a great coach.

It is time to Fire Sylvester Croom.

FRIDAY LINKAGE:

Malls, hotels next victims in new mortgage crisis — The full scope of the housing meltdown isn’t clear and already there are ominous signs of a new crisis — one that could turn out the lights on malls, hotels and storefronts nationwide.

The Hedge Fund Collapse — As many as half the funds that existed earlier this year, when the industry topped out at 10,000 funds in business, could fail or be wound up in a year’s time, industry watchers estimate. Assets under management at hedge funds are falling as investors rush to pull money out of good funds and bad. In September, investors took out an estimated $41 billion from the sector, the largest monthly outflow of money since experts began tracking numbers. October looked even worse.

“Something is happening of historic proportions” – I think there is something monumentally large afoot, and I do not believe it is just a banking crisis, or a mortgage crisis, or a credit crisis. Yes these exist, but they are merely single facets on a very large gemstone that is only now coming into a sharper focus.

Something of historic proportions is happening. I can sense it because I know how it feels, smells, what it looks like, and how people react to it. Yes, a perfect storm may be brewing, but there is something happening within our country that has been evolving for about ten – fifteen years. The pace has dramatically quickened in the past two.

What this depression could look like — look back 135 years the current economic woes look a lot like what my 96-year-old grandmother still calls “the real Great Depression.” She pinched pennies in the 1930s, but she says that times were not nearly so bad as the depression her grandparents went through. That crash came in 1873 and lasted more than four years. It looks much more like our current crisis.

Government bailout hits $8.5 trillion:
— The federal government committed an additional $800 billion to two new loan programs on Tuesday, bringing its cumulative commitment to financial rescue initiatives to a staggering $8.5 trillion, according to Bloomberg News.

That sum represents almost 60 percent of the nation’s estimated gross domestic product.

Citi says price of gold could go over $2000 next year – The bank said the damage caused by the financial excesses of the last quarter century was forcing the world’s authorities to take steps that had never been tried before.

This gamble was likely to end in one of two extreme ways: with either a resurgence of inflation; or a downward spiral into depression, civil disorder, and possibly wars. Both outcomes will cause a rush for gold.

—–

This is the World Famous Friday Open Thread. Your thread in times of global economic meltdown and poor football teams.

WFFOT: Ending the thread the way it began, “Fire Sylvester Croom”

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Gratitude thread

Much to be thankful for, even in times like these.

Happy Thanksgiving!

As seen from a simpler(and non-PC or multi-culti sensitive) time.

ROPMA

One thousand Christians were today trapped inside the Coptic Orthodox Church of the Virgin Mary in West Ain Shams,Cairo, after more than twenty thousand Muslims attacked them with stones and butane gas cylinders. The Church’s priest Father Antonious said that the situation is extremely dangerous.

The Muslim mob that attacked the church blocked both sides of the street and encircled the church building, broke its doors and demolished its entire first floor. The mob were chanting Jihad verses as well as slogans saying “we will demolish the church” and “We sacrifice our blood and souls, we sacrifice ourselves for you, Islam”, while the entrapped Christians chanted “Lord have mercy”.

The incident started on the occasion of the inauguration of the Church today, when the Muslims hastily established a Mosque in the early hours of this morning, by taking over the first floor of a newly-built building facing the Church and started praying there.

When the security forces tried to disperse the mob, they went to nearby homes and shops owned by Christians, and were armed with sticks, butane, knives and other sharp objects. Witnesses said the mob included children from as young as 8-years old to men of over 50-years old, in addition to women.

The Church building was originally a factory that was adapted into its present state, the matter which took over five years to complete and to get the necessary permissions from the authorities to have a Church established.

Not long ago, a commenter was trying to make the case that Islam is no different than Christianity. In fact, all one had to do was to hop aboard a time machine and see even worse acts than described above committed by Christians during the Crusades.

Unfortunately, my solar panels can’t generate the 1.21 gigawatts necessary for time travel, so I am left with making contemporary comparisons.

ROPMA

link

Owambo to the rescue

owamboThe president-elect came on television today and announced some key members of his economic team.

One of the grandaughters came outside to tell me, “Grandpa! Preznit Owambo is on television.”

I tuned in just in time to hear Owambo tell us, “the economy is likely to get worse before it gets better.”

Dang. This guy is brillyunt.

Link

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